KGS vs QQQ: Correlation
Measured on weekly returns over the past three years, Kodiak Gas Services, Inc. (KGS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGS and QQQ?
Over the past 3 years, KGS and QQQ moved with a correlation of 0.22, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.02 versus 0.22 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 159.3 %².
Out of 12 assets tracked against KGS, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months KGS outperformed by 50.6 percentage points (+76.9% for KGS against +26.3% for QQQ). One caveat on sizing: KGS is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
KGS vs QQQ: side by side
| KGS (Kodiak Gas Services, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +76.9% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 37.1% | 19.6% |
| Beta vs S&P 500 | 0.72 | 1.28 |
| Max drawdown (3Y) | -38.6% | -22.8% |
| Market cap | $6.1B | – |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 3.24% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | KGS | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +115.2% | +25.6% |
| 2025 | -3.7% | +20.8% |
| 2026 | +64.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGS and QQQ good diversifiers for each other?
Reasonably. At 0.22, KGS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KGS and QQQ?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with 0.02 over the last year and n/a over 5 years.
Is QQQ a good diversifier for KGS?
Reasonably. At 0.22, KGS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kgs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kgs-vs-qqq/)
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Related comparisons
Hubs: KGS correlations · QQQ correlations
